Tally Lecture 4 Golden Rules of Accounting

🌟 Alien Institute of Computer

📘 Tally ERP 9 – Lecture 4

🎓 Topic: Golden Rules of Accounting (Made Super Simple!)

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🤔 What Are Golden Rules?

Imagine you're playing a game. Every game has rules, right?

In Tally Accounting, we also have some important rules. These are called the Golden Rules of Accounting. These rules help us decide:

👉 What to write as Debit
👉 What to write as Credit

Let’s understand them like a story 😊

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🧍 1. Personal Account Rule

📢 “Debit the Receiver, Credit the Giver”

🧒 Easy Meaning:

• If someone receives something, we write it as Debit

• If someone gives something, we write it as Credit

🎁 Example:
You give ₹500 to your friend Mohan.

• Mohan is receiving → Debit

• You are giving → Credit

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📦 2. Real Account Rule

📢 “Debit What Comes In, Credit What Goes Out”

📦 Easy Meaning:

• If something comes in (like a computer, cash, table), it's Debit

• If something goes out, it's Credit

💻 Example:
You bought a new chair for the classroom.

• Chair comes in → Debit

• Cash goes out → Credit

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📊 3. Nominal Account Rule

📢 “Debit all Expenses & Losses, Credit all Incomes & Gains”

💸 Easy Meaning:

• When you spend money (rent, salary, stationery) → Debit

• When you earn money (sales, income, profit) → Credit

🧾 Example:
You paid ₹100 for electricity.

• Electricity bill = Expense → Debit

• Cash goes out → Credit

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🧠 Let’s Remember Like This:

🧾 If this happens...	📓 Then write as...
You receive something	Debit
You give something	Credit
You buy a product	Debit (it came in)
You pay money	Credit (cash went)
You pay bills or spend on anything	Debit
You earn money	Credit

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🧪 Try It Yourself (Activity)

✅ Example:

You buy a pen for ₹10.

🖊️ What happens?

• Pen is a thing → It comes in → Real Account → Debit

• Cash goes out → Real Account → Credit

✅ Example:

You give ₹100 to your friend Rahul.

🤝 What happens?

• Rahul is receiving → Personal Account → Debit

• You are giving → Personal Account → Credit

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📌 Final Tips

🔹 Always read the question like a story
🔹 Find who is giving and receiving
🔹 Ask: Is it a thing? Is it money? Is it a person?

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🎓 Homework

Try to solve this example:

You paid ₹500 as room rent.

Think:

• What type of account is Rent?

• Who is giving? Who is receiving?

• What should be Debit? What should be Credit?

👉 Try to solve and we’ll check it in the next class!

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📘 Taught by: Alien Institute of Computer
💡 "Making Big Topics Easy for Bright Kids"

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